Thursday, January 12, 2012

Moving Out of the Home Office — Four Tips for Growing Businesses

seen on US Small Business Administration


Did you know that an astonishing 52 percent of small businesses are home-based? That’s according to the SBA’s Office of Advocacy.
Running a home-based business must have numerous advantages for many business models, and for businesses of different ages.  For example, during the start-up phase it represents a low-cost and low-risk avenue for conducting business. However, a home office has its limitations. Small business owners often find that they are not cut out to work from home, or they’ve found their enterprise growing and need to hire employees, or they simply need a more professional space in which to conduct business.
But how do you make a seamless and cost-effective transition from a home-based business to a professional office space? Here are some best practices to consider as you expand beyond your home-based business environment.
Assess Your Needs and Your Budget
If you are considering a commercial property lease, make sure you have a clear sense of your budget on a per-square-foot basis. Ask yourself how many offices, cubes, or workstations you’ll need, now and in the future. If you anticipate further growth, preempt the need for multiple moves by looking for a building that has extra space you can expand into should you need it. For advice on negotiating a commercial lease, read: 6 Tips for Negotiating a Commercial Property Lease without Getting Burned.
Your budget should also include cost estimates for furniture, utilities, and IT needs. Don’t go overboard though; as you transition from home to an office, invest your resources wisely. One option is to rent office furniture and equipment, or buy government surplus equipment (a little known but very cost-effective way to equip your business.) Alternatively, you may want to introduce a hot-desking policy or shared office space. This will allow employees to literally share a “hot-desk” on a rotating basis. So if one employee is teleworking or taking flex time, another employee can use the same desk space.
Consider Serviced Offices or Suites
A great option for making the transition from a home office to a professional environment is to rent a serviced office or executive suite. Usually located in busy business districts, these premises are fully equipped and managed by a facility management firm. The rental agreements for these spaces are often more flexible than commercial leases and also give you the option of easily scaling up if you need to. Typically a serviced office broker can help you locate the right space.
Decide on a Location
Deciding on a location for you new office or retail outlet will take some research. You want your presence to be felt, but you also want to make sure you’re visible and within reach of your target customers. If you are in the retail service industry, having a store concept or design in mind is also a good idea; this will help you pitch your business to commercial leasing companies seeking the “right kind of tenant” for their property.
For more tips on choosing the right business location, read SBA’s Tips for Choosing a Business Location and don’t forget to be aware of zoning restrictions at your new location.
Update Your Business Regulatory Paperwork
When you relocate your business to a new city, county, or state you’ll need to update several key business requirements. For example, both your business licenses and permits and your “Doing Business As” name (DBA) filing will need to be updated with your local government.  Visit the Incorporating and Registering Your Business page for more information on how to re-register your business in a new location. If you move to a new state you’ll also need to understand your new city/county tax requirements, as well as notify your previous state of your move. Find links to your state revenue office here.
Related Articles
Caron Beesley has over 15 years of experience working in marketing, with a particular focus on the government sector. Caron is also a small business owner and works with the SBA.gov team to promote essential government resources for entrepreneurs and small businesses.

6 comments:

  1. The office space is an important asset for any business owner. With the help of a good office space, various types of business related activities can be conducted in a smooth way. It has also become easy to set-up offices for rent for small business which is helping in the growth of the company.

    ReplyDelete
  2. I'm a 28-year old girl, who spent the last eight years in Chicago. I was in need of a big change. So....I moved to LA. Since moving to LA nearly three years ago.
    Definitely my mooving was impossible without https://www.moveprola.com/west-hollywood-movers/
    team. Perhaps this is the best service for the transportation of things. Returning to my story... I've met a bunch of new people I now call my friends, gotten promoted at work, fell in love (with a Australian), started learning surfing, and have really grown as a person. It's been a highlight in my career and life in general. I think anytime you do something big and bold and outside your comfort zone, add a positive attitude and cross your fingers for a spot of luck – you generally don’t have regrets, because I don’t.

    ReplyDelete
  3. Pretty good post. I just stumbled upon your blog and wanted to say that i have really enjoyed reading your blog posts.Jacksonville office furniture

    ReplyDelete
  4. They simply need a more professional space in which to conduct business.selling

    ReplyDelete
  5. Your blog give many information thanks for share this informative article. refurbished office cubicles Chicago

    ReplyDelete
  6. If issues are found during the inspection, your buyer's agent can ask for them to be fixed by the seller before the sale of the home closes. If the issues are too large, you may have saved yourself from many future headaches.guarantor loans

    ReplyDelete